Common use of Form and Transferability of Trust Securities Clause in Contracts

Form and Transferability of Trust Securities. (a) Except as otherwise required by the Clearing Agency, Trust Securities shall be evidenced by certificates engraved, printed or lithographed or may be produced in any other manner as is reasonably acceptable to the Regular Trustees and in substantially the form set forth in Exhibit A annexed to this Trust Agreement, with the appropriate insertions, modifications and omissions, as hereinafter provided. (b) Certificates evidencing Trust Securities shall be (i) executed by one or more of the Regular Trustees by manual or facsimile signature and (ii) upon order of the Regular Trustees authenticated by the Property Trustee by manual signature of an authorized signatory thereof. No certificate evidencing one or more Trust Securities shall be entitled to any benefit under this Trust Agreement or be valid or obligatory for any purpose unless it shall have been executed and, authenticated as provided in this paragraph. The Registrar shall record on the Register each Trust Security certificate executed as provided above and delivered as hereinafter provided. (c) Certificates evidencing Trust Securities shall be issued in minimum denominations of $ liquidation amount and integral multiples of $ in excess thereof. All Trust Security certificates shall be dated the date of their authentication. (d) Certificates evidencing Trust Securities may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Trust Agreement as may be required by the Registrar or the Property Trustee or required to comply with any applicable law or regulation or with the rules and regulations of any securities exchange upon which the Trust Securities may be listed or to conform with any usage with respect thereto. (e) Title to any Trust Security certificate that is properly endorsed or accompanied by a properly executed instrument of transfer or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until the transfer shall be registered on the Register as provided in Section 5.3, the Trust, the Property Trustee, the Regular Trustees, the Registrar and the Grantor may, notwithstanding any notice to the contrary, treat the Holder thereof at such time as the absolute owner thereof for the purpose of determining the Person entitled to distributions or to any notice provided for in this Trust Agreement and for all other purposes.

Form and Transferability of Trust Securities. (a) Except as otherwise required by the Clearing Agency, Trust Securities shall be evidenced by certificates engraved, printed or lithographed or may be produced in any other manner as is reasonably acceptable to the Regular Trustees and in substantially the form set forth in Exhibit A annexed to this Trust Agreement, with the appropriate insertions, modifications and omissions, as hereinafter provided. (b) Certificates evidencing Trust Securities shall be (i) executed by one or more of the Regular Trustees by manual or facsimile signature and (ii) upon order of the Regular Trustees authenticated by the Property Trustee by manual signature of an authorized signatory thereof. No certificate evidencing one or more Trust Securities shall be entitled to any benefit under this Trust Agreement or be valid or obligatory for any purpose unless it shall have been executed and, and authenticated as provided in this paragraph. The Registrar shall record on the Register each Trust Security certificate executed as provided above and delivered as hereinafter provided. (c) Certificates evidencing Trust Securities shall be issued in minimum denominations of $ $25 liquidation amount and integral multiples of $ $25 in excess thereof. All Trust Security certificates shall be dated the date of their authentication. (d) Certificates evidencing Trust Securities may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Trust Agreement as may be required by the Registrar or the Property Trustee or required to comply with any applicable law or regulation or with the rules and regulations of any securities exchange upon which the Trust Securities may be listed or to conform with any usage with respect thereto. (e) Title to any Trust Security certificate that is properly endorsed or accompanied by a properly executed instrument of transfer or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until the transfer shall be registered on the Register as provided in Section 5.3, the Trust, the Property Trustee, the Regular Trustees, the Registrar and the Grantor may, notwithstanding any notice to the contrary, treat the Holder thereof at such time as the absolute owner thereof for the purpose of determining the Person entitled to distributions or to any notice provided for in this Trust Agreement and for all other purposes.

Form and Transferability of Trust Securities. (a) Except as otherwise required by the Clearing Agency, Trust Securities shall be evidenced by certificates engraved, printed or lithographed or may be produced in any other manner as 21 is reasonably acceptable to the Regular Trustees and in substantially the form set forth in Exhibit A annexed to this Trust Agreement, with the appropriate insertions, modifications and omissions, as hereinafter provided. (b) Certificates evidencing Trust Securities shall be (i) executed by one or more of the Regular Trustees by manual or facsimile signature and (ii) upon order of the Regular Trustees authenticated by the Property Trustee by manual signature of an authorized signatory thereof. No certificate evidencing one or more Trust Securities shall be entitled to any benefit under this Trust Agreement or be valid or obligatory for any purpose unless it shall have been executed and, and authenticated as provided in this paragraph. The Registrar shall record on the Register each Trust Security certificate executed as provided above and delivered as hereinafter provided. (c) Certificates evidencing Trust Securities shall be issued in minimum denominations of $ $25 liquidation amount and integral multiples of $ $25 in excess thereof. All Trust Security certificates shall be dated the date of their authentication. (d) Certificates evidencing Trust Securities may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with the provisions of this Trust Agreement as may be required by the Registrar or the Property Trustee or required to comply with any applicable law or regulation or with the rules and regulations of any securities exchange upon which the Trust Securities may be listed or to conform with any usage with respect thereto. (e) Title to any Trust Security certificate that is properly endorsed or accompanied by a properly executed instrument of transfer or endorsement shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until the transfer shall be registered on the Register as provided in Section 5.3, the Trust, the Property Trustee, the Regular Trustees, the Registrar and the Grantor may, notwithstanding any notice to the contrary, treat the Holder thereof at such time as the absolute owner thereof for the purpose of determining the Person entitled to distributions or to any notice provided for in this Trust Agreement and for all other purposes.